India INX to be fastest exchange; to run 22 hours a day: BSE CEO

India International Exchange (India INX), the arm of leading domestic bourse Bombay Stock Exchange (BSE), is all set to be inaugurated by Prime Minister Narendra Modi today.

Speaking to CNBC-TV18 Ashish Kumar Chauhan, MD & CEO of Bombay Stock Exchange said India International Exchange (India INX) will function for 22 hours on daily basis beginning with the opening of Japanese stock exchange and will close with the closing of bourses in the US.

He said at 4 milliseconds India INX will be the fastest exchange in the world, better than BSE’s own system at Mumbai which stands at 6 milliseconds. The next fastest international exchange is in Singapore which has a response time of 60 micro seconds, he added. He also said that India INX will provide arbitrage opportunities to global players